184 Million XRP in 24 Hours – What’s Happening?
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
According to data shared by cryptocurrency tracker Whale Alert, which monitors large crypto transfers within the blockchain space and shares their details on social media, over the last 24 hours, an equivalent of $111.8 million in XRP coin was withdrawn from two major exchanges.
Among those transfers were millions of XRP, which were sent to Bitso and Bitstamp.
Yuri Molchan184.2 million XRP getting shoveled
Whale Alert detected eight transfers moving hefty amounts of XRP. The smallest of them was worth 19,000,000 XRP (the equivalent of $10,961,925). The two largest ones carried 26,000,000 and 26,287,782 XRP. The other carried between 21 million and 23 million XRP coins.
The overall amount of XRP that was moved totaled 184.2 million, evaluated at almost $112 million in fiat.
Among these massive transfers, 21,040,000 XRP were deposited into the cryptocurrency unicorn and the leading exchange in Latin America, Bitso. A total of 22,685,000 XRP was transferred to Bitstamp. Additional data shared by Bithomp shows that these two XRP chunks were deposited from Ripple-linked wallets as part of regular efforts to support the Ripple Payments project formerly known as On-Demand Liquidity (ODL).
Earlier this week, Whale Alert also reported a stunning 150 million XRP transaction from a Ripple wallet to an unknown blockchain address. That enormous transfer raised the eyebrows of many within the XRP community, triggering questions as to the destination of this mammoth-sized transaction.
XRP price plummets 10%
In the meantime, in the past 24 hours, XRP has shed a substantial 10%, falling from $0.63459 to the $0.57205. A small rise followed, pushing the Ripple-affiliated coin up. But now it has declined to trader at $0.57421.
That decline was preceded by a massive 16% price surge. Earlier this month, XRP registered an astounding weekly rise of approximately 36%, which happened between July 7 and July 13. According to a recent report published by Santiment, large cryptocurrency wallets accumulated roughly 300 million XRP, thus pushing the coin’s price way up.
Related articles
Alex Dovbnya
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team